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Bitcoin has been on a brilliant surge, reaching a new ATH of around $89,864. Although the price might have slumped slightly since then, it still has a thrilling 30% surge over the past seven days and 102% surge in 2024, while expectations are rife that its price could rise significantly higher before the end of 2024. Historically, whenever the world’s biggest cryptocurrency is on a tear as this, the market comes alive. While this has also applied in this current surge, memecoin enthusiasts will be keen to witness exponential pump orchestrated by the Bitcoin’s happy mood. For a good part of the year, memecoins have garnered the most attention particularly within Solana and Ton ecosystems, if memecoin market will witness a major rally, then these ecosystems will surely be on the forefront. With this likelihood, all eyes seems to be fixated on PNUT, a meme token on Solana Blockchain. The token pays homage to Late PNUT, a social media sensation squirrel rescued in 2017 by Mark Longo after its mother was killed by a car in New York City. Backed by Beeple, Elon Musk, Doge, Wif, and Justin Sun; PNUT successfully launched on Bitget where its volume is on the rise. Bitcoin soars, could PNUT and other meme gaints respond accordingly?
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By CryptoChamp · Posted
Tron (TRX) has been showing impressive growth lately. Currently trading between $0.16 and $0.17 as per Coinpedia Markets, the price has increased by nearly 32% over the past six months. This steady upward movement is backed by bullish technical indicators, including a Relative Strength Index (RSI) above 50 and a positive MACD. These signals suggest that TRX could continue to rise, especially if it breaks through its nearest resistance at $0.17. If that happens, TRX Price may reach the next level of $0.18, offering a potential gain of about 6%. Support Levels and Stability Support levels for TRX are currently at $0.16 and $0.15, providing some downside protection. Both the 10-day and 100-day simple moving averages at $0.16 indicate that TRX has maintained price stability in recent weeks. Although the price has shown moderate changes, with a 0.15% increase over the past week and a 3.52% rise over the last month, the overall trend remains positive. Rounding-Bottom Reversal and Fibonacci Levels Tron Coin is also forming a rounding-bottom reversal pattern, currently testing the 38.20% Fibonacci level at $0.1686. This technical setup could signal a bullish breakout if TRX manages to break above this key level. The broader price action also shows a rising wedge pattern, which increases the chances of a successful breakout as the market recovers. Network Growth Supports Tron Crypto Price On the network front, Tron has seen impressive growth. TronScan reports that the total value locked (TVL) on the network has surpassed $18 billion, with daily transactions nearing 9 million. The number of accounts has also grown significantly, reaching 271.38 million. This positive network activity supports a strong Tron Price Prediction as demand for Tron Crypto continues to rise. With increasing momentum and network growth, TRX Crypto seems poised for further gains. -
By tradinglounge · Posted
GX URA Elliott Wave Analysis The Global X Uranium ETF (GX URA) provides investors exposure to the uranium sector, tracking companies engaged in uranium mining, exploration, and production globally. As nuclear energy gains traction as a cleaner power source, uranium demand could rise, positioning the GX URA ETF as an appealing opportunity for investors interested in the sector's potential growth. The GX URA ETF remains bullish from March 2020 making higher highs and higher lows. The previous was formed in May 2024 and the price already breached in October after a 10-week pullback from May 2024. Daily Chart Analysis Following this low, the ETF completed an impulsive wave A (circled) of the primary degree by November 2021, marking the first phase of a larger corrective structure. A corrective pullback was then developed for wave B (circled) and ended in July 2022. From there, an impulsive wave structure took shape for wave (1) of C (circled), culminating in May 2024. A pullback followed, forming wave (2) as shown on the daily chart. Currently, the rally that began on August 5, 2024, is likely the start of wave 1 of (3), signaling the next phase of the bullish recovery. With wave 1 still developing, significant upside potential remains as the correction unfolds. H4 Chart Analysis H4 chart analysis shows wave 1 of (3) is still developing. Currently, the price has completed wave ((iv)) of 1 and still favors further rallies in wave ((v)) of 1 toward $35 before a larger pullback in wave 2. Technical Analyst : Sanmi Adeagbo Source : Tradinglounge.com get trial here!
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Question
JamesIG
How the "Ask our expert" Community posts work
For this IG Community feature we wanted to offer all clients, new or old, the opportunity to ask any MT4 questions directly to Tim Plummer, our ‘Head of Integrated Trading Platforms’. Please leave any query you may have in the comments below and Tim will be able to reply directly.
This feature will be available on IG Community between the 18th – 29th September and throughout the trading week we’ll aim to get all questions answered within 24 hours. After the two week period has finished the thread will remain available, however regular mods and other Community members will reply to any questions. I have also included a few FAQ and information pointers at the bottom which may help if you are a newer client to IG. If you would like more information regarding MT4 and trading with IG on leverage, please visit the appropriate links. If you don't have an IG account, please visit IG.com
All trading involves risk. Losses can exceed deposits.
Trading Cryptocurrencies on MT4
MetaTrader4, also known as MT4, is a popular trading platform which is most commonly associated with Forex trading. You can use MT4 software to integrate with IG, and deal on leveraged FX as well as a few additional markets such as major indices, gold and silver, and also US and UK oil. We have recently added Cryptocurrencies such as Bitcoin and Ether to the MT4 software to further extend our offering.
Tim has a very in depth working knowledge of MT4 and was a driving force behind the addition of Bitcoin and Ether to the platform. In his own words:
“We are pleased to announce that we have launched Crytocurrencies on MT4.
This opens up the horizons for many traders that want to take advantage of this new and cutting edge market without the necessity of using exchange wallets. With MT4 you not only get to use a wealth of technical indicators to help build your strategy, but you can also build or buy algorithms to help execute your strategy. With IG’s MT4 you get access to institutional grade liquidity and pricing while being safe in the knowledge that you are with a broker you can trust that has been in the industry for over 40 years.
You can also use the IG MT4 apps to really get the most out of Meta Trader. You can use the alarm manager to help strengthen your risk management, the trade terminal to manage multiple positions as well as your account and the Mini Terminal for you to be able to manage trades quickly and efficiently.
As we said earlier, MT4 has the ability for you to automate your trades so that you can capitalise on market shocks and react to the major moves without being at your PC using Expert Advisors (also known as EA’s).
If you currently trade MT4 elsewhere we invite you to put us to the test.”
If you already have MT4 downloaded you will need to make sure you make these new markets visible. Simply right click in the Market Watch area and select ‘show all’. You will then see the BTC and ETH pairs. If you are having any issues, please let us know in the comments below.
An introduction to MT4
If you have a live IG account you can add MT4 via My IG, which will set up your new sub account and provide you a download link. If you already have an MT4 account with IG but would like to download the software again, you can do so here. Alternatively you can visit the Meta Trader 4 website directly, and then use the IG server information to connect to IG.
There are a couple of methods for trading; either you can download the software and deal in real time, or set up an automated trading system which you can code yourself or load from third party providers. Further to this there are a couple of other important functions of MT4:
MT4 is only available for Windows and there are no plans to release this to Mac OS. There are both Apple iOS and Android applications which can be downloaded from the relevant online store. If you have a mobile app you’ll need to create an account via the desktop computer, receive your login details, and then switch over to the app where you can find IG’s server by typing in IG-Live.
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